"I'm giving around 1/3 of my Twitter stock to our employee equity pool to reinvest directly in our people," Jack Dorsey announced on Twitter on Thursday. "I'd rather have a smaller part of something big than a bigger part of something small. I'm confident we can make Twitter big!"

The development comes a few weeks after Twitter said it would sack 336 employees globally.

Twitter Valuation:
One per cent of Twitter is currently worth an estimated $198 million.
One third of stock equals about 7 million shares valued at $200 million

Philanthrophy
Dorsey has also committed to give away 40 million shares of Square, or 10 per cent of the total outstanding stock, to Start Small Foundation last week.